South Africa's rand weakens on political risk, credit downgrade fears

April 5, 2016 7:17 AM

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JOHANNESBURG, April 5 South Africa's rand weakened on Tuesday as President Jacob Zuma faced a vote in parliament to remove him from office for failing to uphold the constitution, and a warning by the central bank that the risk of a credit ratings downgrade had increased.

Zuma has the backing of the African National Congress (ANC), which he secured on Friday after apologising for his failure to repay some of the $16 million spent on his private Nkandla home because it was based a bad legal advice.